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S&P: 76 Chinese firms to be world-class giants

By Xu Shenglan (chinadaily.com.cn)
Updated: 2008-07-25 17:41

According to statistics released yesterday by Standard & Poor's, a well-known provider of independent credit ratings and indices, 76 medium-sized firms on the Chinese mainland are expected to emerge as challengers to the world-level blue chip companies.

This S&P list picked 300 potential companies across the world. The candidate companies come from 33 economies and cover nine industries. Industrial companies, which accounted for 81 seats, made the major part of the list.

The Chinese mainland tops the list with 76 hopefuls. In addition, 14 companies from Hong Kong Special Administrative Region are also included on the list.

The attributes used to identify the companies are share price appreciation, sales growth, earnings growth and employee growth.

The economies contributing the most members include Chinese mainland (76), the United States (73) and Hong Kong Special Administrative Region (14). Regionally, the Asia/Pacific comprises 39% of the S&P Global Challengers List, the Americas 29.33%, Europe 30% and the Middle East/Africa 1.67%.